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Housing Starts Trend Stable in April

HALIFAX, NOVA SCOTIA--(Marketwired - May 9, 2016) - Housing starts in New Brunswick's urban centres were trending at 1,145 units in April compared to 1,183 in March according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

"So far this year total starts are in line with what we saw last year," said Michael Edwards, Senior Market Analyst with CMHC's Atlantic Market Analysis Centre. "The main difference is that we have slightly more single family homes being built so far this year," added Edwards.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The standalone monthly SAAR was 1,226 units in April, up from 837 in March.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.